Choppy day on Wall Street today as indices traded down mid day but came back to break even at the close. The NDX did bounce of support. SPX also bounced off support but the chart has pulled back more than NDX. There is no clear direction in the market at the moment though the primary trend is still up.
AQMS: Stock broke out of its base pattern back in February on contract news. It popped up trading as high as $18.00 and then consolidating for a month. Today it popped out above the down trending tops line and above the former high. It traded as high as $19.39, closing at $19.00. I would look to go long over today's high with a price target of $24.00. Shorts 5.9 days to cover.
AUPH: Nice winner from my watch list last night. After making a nominal new high yesterday the stock open slightly lower and then took off mid day trading as high as $8.28 closing at $7.78. Very strong momentum on this chart. I am still looking for a price target of $10.00 and then $12.00 (not $1200 like I wrote yesterday).
CBAY: Stock broke out of a long term base last month and has been in a rising channel formation. It had a period of consolidation last week and today bounced off of support and closed right at the top of its trading range at $4.09 (high was $4.12). I would look to go long over today's high with $5.00 as the target.
FATE: Last month this stock broke out of its base pattern at $3.25/$3.75 trading as high as $4.75. Since then it has formed a wedge formation.Today it popped out of that formation trading as high as $4.58 and closing right near the top of that range at $4.54. There are two ways to trade this; 1. to go long over today's high or wait until it breaks above the $4.75 level. It does have resistance at $5.00. If it can carry through that level then $6.50 is the price target.
IMMU: Big pop on this stock today breaking out of its wedge formation. It traded as high as $6.08 closing at $6.01. I went long this stock overnight at the close as it seems very strong. I will add to my position on a trade over $6.08. My first price target is $7.25. A break through that level and $9.00 is the next resistance. Shorts 4.5 days to cover.
TGTX: The stock had a big day trading from yesterdays close and adding $1.65 to close above the double top that was formed on the break out 4 days ago. It traded as high as $12.00 closing at $11.80. If it breaks through $12.00 with conviction then the double top resistance at $15.00 is the next price target. Shorts nearly 22 days to cover could add a lot of momentum to the trade.
Check the Russell 2000 chart which is the overall small and mid cap stock market and you will see how it is struggling, only the Dow and the S&P of big boy corporations are heavily bullish
So there is divergence.... One of them is going to be right. Small caps are usually the last to blow off in the late stages of the bull market. Generally, they are not the leaders. in my opinion
jepic. No I am no longer in AKAO.
Oasis5 - most of the financial sites have them. But Yahoo Finance is a free site that has it listed. Of course the NASD has it as well as they publish the list.
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